January Pennsylvania Gambling Revenue up by 2.7%
A recent report released by the Pennsylvania Gaming Control Board (PGCB) has revealed a 2.72% increase in total gambling revenue for January 2024 compared to January of the previous year, with a figure of $477,151,563.
Despite the increase from the previous year, January’s figure represents a 10.7% decrease from the $534.2m generated in the state in December.
The figure comprises revenues generated from various gambling activities, including slot machines, table games, internet gaming, sports betting, fantasy contests, and video gaming terminals (VGTs). The breakdown in the PGCB press release offers insight into the specific contributions from each segment and casino venue.
Among the establishments, Hollywood Casino at Penn National retains its leading position, with $50.5m in total iGaming revenue. Valley Forge Casino Resort follows closely in second with $41.6m, followed by Rivers Casino Philadelphia with $29.5m.
Bringing in $179.5m, physical slots remain the primary source of gambling revenue in PA. However, this represents an 11.2% year-on-year decrease. Similarly, revenue from land-based table games also declined by 13.4% to $72.7m.
The total revenue generated by sports betting in the state increased by 77.9% to $69.9 million. This amount includes $66 million in online wagering revenue and $3.9 million from retail sportsbooks. Notably, the Valley Forge Casino Resort and FanDuel partnership was responsible for generating $39.6 million in sports betting revenue for the state.
The online gambling industry, which includes real money online casinos, has been a significant contributor to revenue growth, generating $149.6 million in revenue, which is a 12.4% increase from the previous year. Online slots contributed $110 million to the total figure, representing a 22% rise from January 2023. However, revenue from online table games decreased by 7.8% to $36.9 million, while internet poker revenue remained almost unchanged at $2.7 million.
